Nuwellis Correlations

NUWE Stock

USD 1.11 0.05 4.31%

The current 90-days correlation between Nuwellis and ReShape Lifesciences is 0.05 (i.e., Significant diversification). The correlation of Nuwellis is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.

Nuwellis Correlation With Market

Average diversification

The correlation between Nuwellis and DJI is 0.1 (i.e., Average diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Nuwellis and DJI in the same portfolio, assuming nothing else is changed.

Check out Correlation Analysis to better understand how to build diversified portfolios, which includes a position in Nuwellis. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in housing.

For information on how to trade Nuwellis Stock refer to our How to Trade Nuwellis Stock guide.

Moving together with Nuwellis Stock

0.63	EDAP	EDAP TMS SA	Pair Corr
0.63	EHAB	Enhabit	Pair Corr

Moving against Nuwellis Stock

0.55	VVOS	Vivos Therapeutics Earnings Call This Week	Pair Corr
0.47	EMBC	Embecta Corp	Pair Corr
0.44	VNRX	Volitionrx Earnings Call This Week	Pair Corr
0.36	FIGS	Figs Inc	Pair Corr
0.35	EKSO	Ekso Bionics Holdings	Pair Corr
0.31	ELAB	Elevai Labs, Common Upward Rally	Pair Corr
0.51	AWH	Aspira Womens Health Earnings Call This Week	Pair Corr
0.39	DHR	Danaher	Pair Corr
0.36	DXR	Daxor	Pair Corr
0.34	CNC	Centene Corp	Pair Corr

Related Correlations Analysis

	RSLS	TNON	RMED	INVO	THMO	SINT	NAOV	TIVC	TLIS	BJDX
RSLS		0.89	0.0	0.0	0.0	-0.18	0.84	-0.22	0.0	0.1	RSLS
TNON	0.89		0.0	0.0	0.0	-0.02	0.9	-0.13	0.0	0.27	TNON
RMED	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	0.0	RMED
INVO	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	0.0	INVO
THMO	0.0	0.0	0.0	0.0		0.0	0.0	0.0	0.0	0.0	THMO
SINT	-0.18	-0.02	0.0	0.0	0.0		-0.04	0.31	0.0	-0.05	SINT
NAOV	0.84	0.9	0.0	0.0	0.0	-0.04		-0.11	0.0	0.19	NAOV
TIVC	-0.22	-0.13	0.0	0.0	0.0	0.31	-0.11		0.0	-0.22	TIVC
TLIS	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0		0.0	TLIS
BJDX	0.1	0.27	0.0	0.0	0.0	-0.05	0.19	-0.22	0.0		BJDX
	RSLS	TNON	RMED	INVO	THMO	SINT	NAOV	TIVC	TLIS	BJDX

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

NAOV	+ 0.9	TNON
TNON	+ 0.89	RSLS
NAOV	+ 0.84	RSLS
TIVC	+ 0.31	SINT
BJDX	+ 0.27	TNON
BJDX	+ 0.19	NAOV

High negative correlations

BJDX	- 0.22	TIVC
TIVC	- 0.22	RSLS
SINT	- 0.18	RSLS
TIVC	- 0.13	TNON
TIVC	- 0.11	NAOV
BJDX	- 0.05	SINT

Risk-Adjusted Indicators

There is a big difference between Nuwellis Stock performing well and Nuwellis Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Nuwellis' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
RSLS	5.53	(2.39)	0.00	(1.45)	0.00	0.00	6.50	(15.44)	64.76
TNON	3.83	(0.81)	0.00	2.66	0.00	0.00	8.40	(6.31)	47.29
RMED	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
INVO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
THMO	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SINT	5.34	0.26	0.04	0.29	6.41	(7.26)	10.63	(12.39)	90.56
NAOV	7.38	(0.60)	0.00	(0.67)	0.00	0.00	16.49	(16.06)	85.95
TIVC	9.65	1.27	0.18	(1.19)	7.48	(14.46)	7.76	(13.84)	221.76
TLIS	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
BJDX	5.78	0.39	0.05	0.24	6.88	(6.45)	12.20	(12.80)	42.86

Nuwellis Corporate Management

Neil Esq	General VP	Profile
Robert Scott	Chief Officer	Profile
Laurent Duhoux	VP Devel	Profile
Rob Scott	Director Officer	Profile
William MD	VP Marketing	Profile

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